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geopressure

07/28/18 11:45 AM

#22696 RE: GiGi62 #22691

Very true, if you want to grown an Oil & Gas Exploration & Production Company, you cannot stop looking for new oil (or even take a break)... For every 1 (one) large-scale production project that you want to have in the next 4-5 years, you will need at least 7 (seven) prospects that are in the development stage today...

Even the big boys like ExxonMobil, Shell, & Chevron fully expect for 6 out of every 7 of their prospects to fail to meet commerciality...

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My oil company has found a way significantly increase the % of successful prospects...